Anicut Growth Fund led a $5 million (approximately Rs 45 crore) funding round for B2B manufacturing startup CapGrid Solutions. Current investors Nexus Venture Partners and Axilor Ventures also participated in the round.
Nexus Venture Partners led CapGrid’s $7 million fundraising effort earlier in January 2023.
An ET report states that following the investment, the round closed at a valuation of Rs 305 crore.
The money raised will go toward international growth and technological investments to boost supply chain and operational effectiveness.
CapGrid was established in 2020 by Tiwari and Himanshu Singh Raghuvanshi to assist suppliers and auto part manufacturers in locating and purchasing the materials they require.
It assists OEMs in obtaining precision parts and components from its affiliated suppliers. CapGrid has 50 strategic supply manufacturing partners and runs about 11 fulfillment centers at the moment.
The startup, which is based in Gurugram, says it made about Rs 99 crore in the previous fiscal year and anticipates making Rs 220 crore in FY25.
